Summary of Director Compensation for Non-Employee Directors

Summary

This document outlines the compensation arrangement for non-employee directors of the company. Directors receive an annual fee of $20,000, additional payments for attending board meetings ($2,000 in person, $500 by phone), and a stock option grant for 50,000 shares. Of these options, 10,000 shares vest immediately, while the remaining 40,000 shares vest in increments of 10,000 per year over four years, provided the director remains on the board.

EX-10.6 14 qr-forms1ex106_6644737.txt SUMMARY OF EXEC. OFFICER COMP. ARRANGEMENTS Exhibit 10.6 SUMMARY OF DIRECTOR COMPENSATION The non-employee directors of the Company receive the following compensation: o annual director fee of $20,000 per year; o $2,000 for each board meeting attended in person and $500 for each telephonic board meeting; and o a grant of an option for 50,000 shares of common stock (on a post-reverse stock split basis). Options for 10,000 shares are immediately vested and the options for the remaining 40,000 shares vest 10,000 per year over the next four years; provided that the director is still serving on the board of directors at the time of the vesting of the stock options.